The Best AR Lens — Without a Scratch
Total Page:16
File Type:pdf, Size:1020Kb

Load more
Recommended publications
-
See Change Report 2018
SEE CHANGE ERADICATING POOR VISION BY 2050 A 2018 UPDATE HUBERT SAGNIÈRES CHAIRMAN AND CHIEF EXECUTIVE OFFICER For 170 years Essilor has been on a mission to improve lives by improving sight. Every day, Essilor Group employees work to better correct and protect the vision of everyone on the planet. While 2 billion people enjoy vision correction, 2.5 billion people, 1 in 3, live with uncorrected poor vision. Today, uncorrected poor vision remains the world’s most widespread unaddressed disability, one that crosses cultural, geographic and economic lines. This is why, in line with Essilor’s mission to improve lives by improving sight, we’re working to eradicate poor vision from the world by 2050. WE’RE WORKING TO ERADICATE POOR VISION FROM THE WORLD BY 2050" VISION MATTERS 2.5 BILLION people suffer from uncorrected poor vision, meaning 1 in 3 people cannot see the world clearly.1 90% of them live in the developing world at the base of the pyramid where awareness and access to vision care is limited.2 $272 BILLION the cost to the global economy of lost productivity every year because adults with uncorrected poor vision struggle with work .3 But this doesn’t need to be the case. 80% of all vision impairments can be prevented or cured with solutions that exist today.2 SOURCES 1 Boston Consulting Group analysis of data from United Nations Development Program, Worldbank, CIA World Factbook, World Resource Institute. 2 World Health Organization. Visual impairment and blindness. Fact sheet No 282, updated 2014.World Health Organization $5 3 Smith et al: Potential lost productivity resulting from the global burden of uncorrected refractive average cost error - Bulletin of World Health Organization 2009, 87:431-437 (adjusted to 2015 population data). -
2018 – Sustainability Report (1
Social, environmental and societal information 2018 Non-financial statement of Essilor International (SAS), a subsidiary of the EssilorLuxottica Group 4.2 2018 Non-financial statement of Essilor International (SAS), a subsidiary of the EssilorLuxottica Group Since October 1, 2018, Essilor International (SAS) has been It is a subpart of the EssilorLuxottica Non-financial Statement part of the EssilorLuxottica Group. found in Chapter 4 of EssilorLuxottica’s 2018 Registration This document is the Essilor International (SAS) Non-Financial Document. Statement for 2018 in which the sustainable development As regards wording, the names “Essilor” and “the Group” program and all related social, environmental and societal refer to Essilor International (SAS). CSR is the acronym for information is presented. Corporate Social Responsibility. 4.2.1 Essilor’s approach to Sustainable Development 4.2.1.1 The Essilor value chain professional customers, prescription laboratories are crucial and stakeholders for ensuring product quality and conformity. The environmental footprint of the prescription laboratories is fragmented and Essilor’s approach to sustainable development is based on limited, and derives primarily from the use of chemical products consideration of the environmental, social and societal impacts and the consumption of energy and water; of its business activities on the various stakeholders along the value chain. • optical retailers and chains: the Group supplies optical retailers and chains in over 100 countries and sells optical products online (contact lenses, prescription spectacles and sunglasses) Value chain through several local websites, serving a rapidly expanding Throughout the Essilor value chain, from product design to global distribution channel. Information security, data marketing, the Group’s business activities impact on the protection and product promotion have been identified as environment and on society at large. -
Legal Rankings 2017 2017
GLOBAL M&A MARKET REVIEW LEGAL RANKINGS 2017 2017 GLOBAL M&A LEGAL ADVISORY RANKINGS The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The CONTENTS tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equity- 1. Introduction swaps, joint ventures, private placements of common equity and convertible securities, and the cash 2. Global M&A Heat Map injection component of recapitalization according to Bloomberg standards. 3. Global M&A Regional Review Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We 4. Global M&A League Tables provide a global perspective and local insight into unique deal structures in various markets through a 6. Americas M&A Regional Review network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. 7. Americas M&A League Tables Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, 9. EMEA M&A Regional Review and our Bloomberg Brief newsletter provides summary highlights of weekly M&A activity and top deal trends. 10. EMEA M&A League Tables 14. APAC M&A Regional Review Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league 15. APAC M&A League Tables table results. On the web, visit: http://www.bloomberg.com/professional/solutions/investment-banking/. -
Essilor Labs of America Partnership
ENVOLVE VISION – LABORATORY ORDERING FREQUENTLY ASKED QUESTIONS Q1: Does Envolve Vision offer an Open Lab Network? A1: Yes. Envolve Vision allows you unrestricted variety when it comes to laboratory and product choice. This model allows you the freedom to conduct your business as you see fit and will allow you increased revenue to the ability to recommend premium products. Q2: Is Essilor Laboratories of America (Essilor Labs) Envolve Vision’s Preferred Lab Partner? A2: Yes. Essilor Labs is the preferred lab partner for Envolve. Essilor Labis the largest and most trusted optical lab network in the United States. With more than 128 optical laboratories across the nation, they are committed to supporting Eye Care Professionals in ways that exceed expectations for service, performance, and quality. They are a full-service provider bringing extensive lens offerings, superior manufacturing, quality, and technologically advanced processing. Through Essilor Labs, you gain access to premium brands like Varilux®, Crizal®, Eyezen+™, Transitions®, and Xperio UV™. Beyond your Envolve Vision work, Essilor Labs offers services including accredited online and in-office staff training, business consulting, pricing analysis, and programs designed to build practice profitability. Q3: Which Essilor Labs can I order my Envolve Vision Jobs? A3: As an Envolve Vision provider, you may place orders at any lab within the Essilor Lab network. However, there is a list of preferred Essilor Labs*, which will offer you the lowest contracted price list when you provide a frame from your office and order lenses from the lab. Classic Optical is the exclusive supplier of the Envolve Vision frame and lens package. -
Fielmann Ag Company Report
MASTER IN FINANCE FIELMANN AG COMPANY REPORT EUROPEAN EYEWEAR RETAIL 4 JANUARY 2021 STUDENT: JAN-PHILIP JANSEN [email protected] Fashionable Glasses for Everyone Recommendation: BUY Fielmann Strengthens its Position in the Industry Price Target FY21: 79.01 € Price (as of 3-Jan-21) 66.45 € Our recommendation is to BUY Fielmann AG considering a Bloomberg: FIE target price of €79.01 as of 31.12.2021 reflected in an upside potential of 20.69% (thereof €1.19 expected dividend) to the current 52-week range (€) 41.90-76.25 Market Cap (€m) 5,581 share price of €66.45. Outstanding Shares (m) 84,000 Source: Thomson Reuters EIKON Market trends like an ever aging population, digitalization and industry consolidation set a solid foundation for further sustainable growth. We think Fielmann will be able to re-accelerate top-line growth back to 5%, achieved by a consistent realization of Fielmann’s corporate strategy “Vision 2025”. High Liquidity and strong Free Cash Flows provide sufficient funding for the renovation and internationalization Source: Yahoo Finance strategy. (Values in € millions) 2019 2020E 2021F The COVID-19 pandemic is currently the biggest threat for Revenues 1,524 1,385 1,556 the eyewear industry but at the same time a huge opportunity for EBITDA 410 328 382 EBIT 281 178 244 Fielmann due to its strong financial position. In contrast to other Capex 185 155 215 analysts, we expect Fielmann to be one of the post-crisis winners. FCF 126 118 68 Source: Annual Report 2019, Analyst Estimation We believe that the broad market might underestimate future profitabilty arising from further market consolidation. -
Luxottica (Borsa Italiana: LUX)
Luxottica (Borsa Italiana: LUX) NOTE: ADRs also trade under “LUX” on the NYSE priced in U.S. Dollars Gross EBITDA EBIT 71% 71% 71% 70% 70% 69% 70% 68% 68% 68% 68% 66% 66% 66% 65% 66% 65% 65% 24% 23% 24% 21% 22% 21% 20% 20% 20% 20% 19% 19% 18% 18% 19% 18% 17% 17% 16% 17% 17% 16% 16% 16% 16% 15% 15% 15% 15% 14% 14% 14% 13% 13% TABLE OF CONTENTS DURABILITY 2 SINGULAR DILIGENCE MOAT 4 Geoff Gannon, Writer Quan Hoang, Analyst QUALITY 6 Tobias Carlisle, Publisher CAPITAL ALLOCATION 8 VALUE 11 Luxottica (Borsa Italiana: LUX) is a Global Maker and GROWTH 13 Seller of Sunglasses and Eyeglasses MISJUDGMENT 15 FUTURE 17 APPRAISAL 20 OVERVIEW NOTES 22 Luxottica is a vertically integrated eyewear company. Although founded in Italy, it now gets much of its sales and profits from the United States. And although founded as a part maker for prescription eyeglass frames (optical glasses) it now gets much of its sales and profits from sunglasses. The company can’t really be referred to as either a producer or a retailer. Luxottica is truly vertically integrated. Last year, 59% of the company’s sales came from its own stores. And much of the products sold in its own stores is produced by Luxottica itself. The two constants in Luxottica’s history have been the focus on eyewear and the leadership of Leonardo Del Vecchio. Luxottica gets 59% of its revenue from sales made in its own stores. Del Vecchio moved to Agordo, Italy in by distributing its own frames. -
Delivering Life-Changing Vision Care Where It Is Needed Most Contents
DELIVERING LIFE-CHANGING VISION CARE WHERE IT IS NEEDED MOST CONTENTS HUBERT SAGNIÈRES CHAIRMAN AND CHIEF EXECUTIVE OFFICER We have welcomed the aspirational ESSILOR IS A COMPANY DRIVEN BY goals set out in the UN’s 2030 Agenda 80%* ONE CLEAR AMBITION. TO CORRECT GOOD for Sustainable Development. Society’s OF VISUAL PROBLEMS CAN AND PROTECT THE VISION OF THE challenges ahead are increasingly BE PREVENTED OR TREATED 7.4 BILLION PEOPLE WHO SHARE interconnected, requiring business, OUR PLANET. governments and civil society to work It’s been our core mission for nearly hand-in-hand. $272bn† 170 years to provide quality vision care With our many partners, we are solutions that improve lives by convinced that addressing the global A YEAR IN LOST PRODUCTIVITY DUE TO UNCORRECTED VISION improving sight. It’s that same mission issue of vision can help advance that has enabled Essilor to multiple Sustainable Development continuously create value, and to Goals. That’s because good vision is a become the undisputed world leader vital enabler, a foundation for healthy in ophthalmic optics, serving lives. Our work in the field has indeed professional customers and shown us how improving sight not only consumers in over 100 countries. improves lives, but contributes to many Every one of us should have the areas in the UN’s global agenda for opportunity to enjoy healthy vision development. throughout our lives. But poor vision In 2016 we mapped our impacts both EVERY ONE OF US SHOULD is still the world’s most widespread against our own priorities, as defined HAVE THE OPPORTUNITY TO disability. -
2021 Interim Financial Report 2021 Interim Financial Report Essilorluxottica
2021 Interim Financial Report 2021 Interim Financial Report EssilorLuxottica Table of contents - First-Half 2021 Results Press Release - First-Half 2021 Management Report - First-Half 2021 Condensed Consolidated Interim Financial Statements - Statutory Auditors’ Review Report on the Interim Financial Information - Statement by the Person Responsible for the 2021 Interim Financial Report This is a free translation into English of the 2021 Interim Financial Report issued in French EssilorLuxottica’s second quarter and first half 2021 results Revenue acceleration, margin expansion and record cash flow Outlook 2021 improved Second quarter: • Revenue +9.2% versus 2019 at constant exchange rates1 • North America best performing region, EMEA and Latin America positive • Professional Solutions and Direct to Consumer both growing and accelerating • Optical and sun both growing, with sun catching up in pace • E-commerce +66% versus 2019 at constant exchange rates1, reaching 9% of total revenue First half: • Operating profit +35% versus 2019 at constant exchange rates1 • Adjusted2 operating profit margin at 18.5%, up 130 basis points versus 2019 • Free cash flow4 record generation at Euro 1.2 billion Charenton-le-Pont, France (30 July 2021, 7:00 am) – The Board of Directors of EssilorLuxottica met on 29 July 2021 to approve the condensed consolidated interim financial statements for the six months ended 30 June 2021. The Statutory Auditors have performed a limited review of these financial statements. Their report is in the process of being issued. “We delivered another strong set of results in the first half, despite the ongoing challenges of the pandemic. Our continued focus on premium products and brands, a powerful supply chain and a global community of talented and engaged employees helped us get there. -
Reference Document 2004 2004
REFERENCE DOCUMENT 2004 2004 2004 REFERENCE DOCUMENT ESSILOR INTERNATIONAL Compagnie Générale d’Optique ESSILOR 147, rue de Paris 94220 Charenton-le-Pont France Phone: +33 (0) 1 49 77 42 24 - Fax: +33 (0) 1 49 77 44 20 www.essilor.com A French corporation with fully paid-up capital of €36,158,669.05 Registred under the number 712 049 618 in Créteil, France. Checklist of Information Provided in Compliance with Autorité des Marchés Financiers Regulations STATEMENTS BY THE PERSONS RESPONSIBLE FOR THE ASSETS, FINANCIAL POSITION AND RESULTS REFERENCE DOCUMENT AND THE AUDIT OF THE ACCOUNTS • Consolidated financial statements and notes........... 44 to 77 • Statement by the persons responsible • Off-balance sheet commitments.............................. 67 to 71 for the Reference Document ........................................... 125 • Fees paid to the Auditors • Statement by the Auditors................................................ 126 and members of their networks ...................................... 108 • Information policy............................................................... 6 • Pro forma financial information ..................................... N/A • Regulatory ratios (banks, insurance companies, brokers. N/A GENERAL INFORMATION • Parent company financial statements and notes .... 82 to 105 • Interim consolidated financial statements....................... N/A Issuer • Applicable regulations (foreign companies)..................... N/A CORPORATE GOVERNANCE • Board of Directors............................................... -
Q1 2021 TRADING UPDATE Safilo's Q1 2021 Business Grows Compared to 2020 and 2019
Press release Q1 2021 Trading Update Q1 2021 TRADING UPDATE Safilo’s Q1 2021 business grows compared to 2020 and 2019: Net sales: +20.0% vs Q1 2020, +6.0% vs Q1 2019 (at constant exchange rates) Adjusted1 EBITDA: Euro 25.8 million, margin 10.3% (2.6% in Q1 2020, 8.1% in Q1 2019) Strong recovery of own and licensed brands, with the new brands in the portfolio effectively compensating the licenses terminated at the end of 2020 Strong growth of the online business, at 13% of the Group’s net sales Significant improvement in profitability driven by sales rebound and now leaner overheads and cost structure Padua, May 11, 2021 – The Board of Directors of Safilo Group S.p.A. has today reviewed and approved Q1 2021 economic and financial key performance indicators. Safilo’s Q1 2021 net sales reached Euro 251.4 million, up 20.0% at constant exchange rates compared to Q1 2020, the first to be hit by the outbreak of the Covid-19 pandemic. More meaningfully, Q1 2021 net sales also grew compared to the same quarter of 2019, up 6.0% at constant exchange rates, thanks to the strong performance of the Group’s own brands and core licenses, and to the significant contribution of the new brands in the portfolio effectively compensating the licenses terminated at the end of last year. The positive sales performance of the period was again largely driven by the United States and by a better than expected contribution from the newly acquired ecommerce business, which, coupled with the growth of Smith’s direct-to-consumer (D2C) channel, boosted Safilo’s total online business to 13% of its net sales from 5.9% in Q1 2020. -
Universita' Degli Studi Di Padova
UNIVERSITA’ DEGLI STUDI DI PADOVA DIPARTIMENTO DI SCIENZE ECONOMICHE ED AZIENDALI “M.FANNO” CORSO DI LAUREA MAGISTRALE IN BUSINESS ADMINISTRATION TESI DI LAUREA “MERGERS AND ACQUISITIONS AS A WAY TO CREATE VALUE: ANALYSIS OF THE ESSILOR-LUXOTTICA CASE AND HOW THE EYEWEAR INDUSTRY IS CHANGING” RELATORE: CH.MO PROF. ANDREA FURLAN LAUREANDA: FRANCESCA MARTINI MATRICOLA N. 1132489 ANNO ACCADEMICO 2017 – 2018 Il candidato dichiara che il presente lavoro è originale e non è già stato sottoposto, in tutto o in parte, per il conseguimento di un titolo accademico in altre Università italiane o straniere. Il candidato dichiara altresì che tutti i materiali utilizzati durante la preparazione dell’elaborato sono stati indicati nel testo e nella sezione “Riferimenti bibliografici” e che le eventuali citazioni testuali sono individuabili attraverso l’esplicito richiamo alla pubblicazione originale. Firma dello studente ________________ Un ringraziamento speciale va alla mia famiglia, per avermi supportato e permesso di arrivare fin qui, sempre sostenendomi e credendo in me, se oggi sono riuscita a raggiungere questo traguardo è grazie a loro. In particolare ringrazio mia madre per la forza e la determinazione che mi ha trasmesso nei momenti in cui mi stavo perdendo, il suo appoggio è stato fondamentale in questo percorso. Vorrei inoltre ringraziare il Professor Furlan Andrea, relatore di questa tesi, per avermi guidata nel percorso di stesura di questo lavoro, permettendomi di appassionarmi all’argomento giorno dopo giorno. Table of contents INTRODUCTION -
BBG Jan 2014
BlockBuster1213SK:Layout 1 12/18/13 11:08 AM Page 1 VOL. XXXIX NO. 1 JANUARY 2014 Practice Management and Purchasing Services for Independent Eye Care Professionals BBG Bottom Line Block Notes What’s Your Value Proposition? t’s the new year, with all of its hope and prom- hat sets you apart from the competition? Many eye care professionals will say Iise for greater productivity, efficiency and prof- Wthat it’s the quality of their products and professional services. So while you are itability before us. The Block Business Academy not trying to compete on price, it’s still important for you and your staff to under- by the Beach provides an opportunity to help stand how to articulate the value of the services and products you provide. you realize those goals with top-quality educa- Your optical dispensary provides continuity from the start of the process to tion for eye care professionals and staff mem- the end. Unlike a chain, the eye care professional or staff member who helps with bers. The continuing education covers clinical frame selection and measurements will likely be the one who dispenses the final eyewear. It is important to explain to patients that their measurements are cus- education as well as practice management Michael Block hours. In addition, Block Business Group ven- tomized and personalized at a higher level. You back up the product, and in fact, dors will be on hand with tremendous purchasing opportunities— provide free service for the useful life of the eyewear. and members have a chance to share business strategies in a There’s tremendous value in that kind of service—but that value must be made relaxing atmosphere.